Re:When a meeting with a VC goes bad (Jobloft)
by webwright on Sunday September 16, 2007 @08:19PM
(#55450)
Is it crazy? YC offers $20k for 2-10%...
It utterly depends on what stage the company is in. If it's a few guys and a prototype, $200k of seed money for 50% isn't necessarily a lousy deal.
And, for the record, it could last quite a while. 3-5 young guys making rice-and-beans money, cheap rent, 2-3 servers at ServerBeach...
The "professor" was insulting and controlling-- he raised the VCs' hackles, which isn't going to move the meeting in the right direction. If he had a problem with the valuation, he should have raised the concern before they'd issued the check. That's bad faith negotiating.
It utterly depends on what stage the company is in. If it's a few guys and a prototype, $200k of seed money for 50% isn't necessarily a lousy deal.
And, for the record, it could last quite a while. 3-5 young guys making rice-and-beans money, cheap rent, 2-3 servers at ServerBeach...
The "professor" was insulting and controlling-- he raised the VCs' hackles, which isn't going to move the meeting in the right direction. If he had a problem with the valuation, he should have raised the concern before they'd issued the check. That's bad faith negotiating.